Latest figures from the Finance & Leasing Association (FLA) show growth of 20% in asset finance new business in April 2015, compared with the same month last year. 

FLA asset finance totalled £2.540 billion in April.

Plant and machinery finance and business equipment finance each grew by 12% in April, and IT equipment finance increased by 78%.
Geraldine Kilkelly, head of research and chief economist at the FLA, said: “The asset finance market reported another month of strong growth in April. Through the provision of leasing and hire purchase, FLA members financed 28.3% of UK investment in machinery, equipment and purchased software in the 12 months to March 2015, up from 27.1% in the same period in 2014.”